Buy NG1! for bounce off trend line support and potential break out of wedge.
After a head fake in Jul'15 when it popped 90 the collapse started. Breaking trend line support and getting under 68 we retraced exactly to the 50% fib ($78) and then tanked to 161.8% extension ($55). The most recent rally so far hasn't managed to get above 78... yet. If I were a gambling man i'm tipping we don't on this run. I'll be getting short risking Nov'15...
Medium term still see prices heading higher but sat under trend line resistance this is a sensible shorting opportunity to test shoulders of inverse H&S. Short at 2.270 SL 2.307 TP 2.037
I realise all doom and gloom the main outlook for equities at the moment (I'm short S&P and ASX200) however got to stick to your system. Range set 5.20 - 18.80 (Jul'07- Nov'08) Broke out of range Jan'14 and now pulled back to ~50% fib at 12 Supportive trend line set up with 3rd point in Feb'16 Seeding pattern on the weekly Looking for buy signal into 10-11. If...
After eroding the longer term bearish trend line (red) back in March, we've since set up a channel set up. Eyes on price action around 42.20 to see if the supportive channel holds.
Fundamentally not much bullish... maybe a mini USD meltdown/correction might provide enough to send all commodities flying? Strong support around 420-430
Completing my collection (copper, gold) have now got short silver.
Long term I'm bullish but if we can get a lift in USD and see metal take a dip we could be looking at a near term high. In an ideal world we bounce up to fill gap at 13 and then roll over and drop back to $5 levels. Tough to believe it could take such a battering but those gaps are there to be filled. One to watch this week.
Long term bullish gold... however useful short opportunity as we approach 1306 high. Will be looking to load up long if we get a decent dip. Copper lead the sell off see "Copper Short" Short at 1287, SL 1310, TP1 1183
Nothing glamorous ... just interested to see how price reacts around 4500; 50% fib retrace of low of 2008 to high of 2015 and potentially supportive trend line.
Fundamental: Baby boom in India. Potential long term bullish INR. Technical: Bearish trend line May'14 til Dec'15. Broken and looking to mark potential bottom on the pair. Looking to buy at 0.975. China vs India Population 1,356,000,000 vs 1,237,000,000 0-14 years: 17.1% vs 28.5% 15-24 years: 14.7% vs 18.1% 25-54 years: 47.2% vs 40.6% www.cia.gov Props to...
Range set: 62c (Aug'15) - 69c (Nov'15) Tested high in Dec'15, tested low Jan'16 Broke high in Mar'16 Project pull back to 50% retracement ~ 65c before a rally above 70c
Waiting for test of bullish trend line to get long
Weekly trend line broken. Looking for short entry
All too calm on our shores... a storm is brewing.